CHINA > US based Tesla is set to build a massive car factory in Shanghai, China with $5 billion investment

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Signing agreements with Chinese authorities, US based Tesla’s Chief Executive Elon Musk is set to open a China car factory in the city of Shanghai. Giving access to the biggest car market in the world, the China factory is expected to have an annual capacity of 500,000 cars.

Having a production unit is particularly beneficial in China as tariff in China is extremely high.  Tesla estimates that it has more than 1,000 Superchargers and 2,000 Destination Chargers in China as of February, 2018. Tesla also has more than 35 retail and service presence in China as of 2017.

Tesla also plans to build a “gigafactory” in China that can be used to build cars as well as batteries. The factory in China will be Tesla’s second manufacturing facility.

About Tesla

Founded in 2003, Tesla is an automotive company that designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and other places internationally. Headquartered in the US, Tesla operates in two main segments mainly automotive and Energy Generation and Storage. Hiring around 37,543 employees, Tesla also provides electric vehicle powertrain components and systems to other manufacturers; and services for electric vehicles through its company-owned service centers, Service Plus locations, and Tesla mobile technicians